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Need help in Straight Line Year 5 and Double declining balance Year 5! ty! Depreciation Methods On January 2 Skyler, Inc. purchased a laser cutting

Need help in Straight Line Year 5 and Double declining balance Year 5! ty!
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Depreciation Methods On January 2 Skyler, Inc. purchased a laser cutting machine to be used in the fabrication of a part for one of its key products. The machine cost $120,000, and its estimated useful life was four years or 920,000 cuttings, after which it could be sold for $5,000. Required a. Calculate each year's depreciation expense for the machine's useful life under each of the following depreciation methods (round all answers to the nearest dollar): 1. Straight-line. 2. Double-declining balance. 3. Units-of-production. (Assume annual production in cuttings of 200,000; 350,000; 260,000; and 110,000.) 1. Straight-Line Depreciation Expense Year Year 1 $ 28,750 Year 2 28,750 Year 3 28,750 Year 4 28,750 2. Double-declining balance Depreciation Year Expense Year 1 $ 60,000 Year 2 30,000 Year 3 15,000 Year 4 6,500 Year 5 3. Units of Production Depreciation Year Expense Year 1 $ 25,000 Year 2 43,750 Year 3 32,500 Year 4 13,750

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